Fund groups are turning their backs on US investments because they expect Donald Trump’s reciprocal tariffs to be partially reintroduced when the current 90 day pause expires on 8 July.

The vast majority of financial advisers (78%) believe that US President Trump’s sweeping tariffs will cut clients’ appetite to invest.

Donald Trump’s tariffs could hit UK pensions, with DC savers warned they may experience a 20% cut in their retirement income.

Global economic uncertainty is fuelling significant growth in demand for financial advice from worried clients, according to a survey of nearly 200 UK financial advisers.